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Planet Fitness 3630 W Southern Ave 20,000 SF Retail Building Phoenix, AZ 85041 $3,846,200 ($192.31/SF) 6.50% Cap Rate
Investment Highlights
- National Credit Tenant with Scalable Model
- Extremely Low Rent & Price Point
- Top Planet Fitness Franchisee
- High-Traffic Arterial Corridor
Executive Summary
The NNN Fitness Group of Marcus & Millichap is pleased to present the opportunity to acquire a single-tenant Planet Fitness located in Phoenix, Arizona. The 20,000 SF fitness facility is secured by a NN lease with United PF (195+ Units), one of the largest and most experienced Planet Fitness franchisees in the country, providing strong national credit-backed income and minimal landlord responsibilities. The offering features approximately 5.3 years of remaining term with structured rent increases and four 5-year renewal options, along with below-market rent of just $12.50/SF, supporting strong unit-level economics and long-term tenant durability.
Located within a high-traffic arterial corridor of Phoenix, the property benefits from strong visibility, convenient access, and consistent commuter traffic (44,388 combined VPD). The surrounding area includes over 214,000 residents within a five-mile radius, supported by robust average household incomes exceeding $108,000 within three miles, providing a strong and stable consumer base for long-term demand.
Located within a high-traffic arterial corridor of Phoenix, the property benefits from strong visibility, convenient access, and consistent commuter traffic (44,388 combined VPD). The surrounding area includes over 214,000 residents within a five-mile radius, supported by robust average household incomes exceeding $108,000 within three miles, providing a strong and stable consumer base for long-term demand.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
20,000 SF
Building Class
B
Year Built
2016
Price
$3,846,200
Price Per SF
$192.31
Cap Rate
6.50%
NOI
$250,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
1.38 AC
Zoning
C-2
Parking
232 Spaces (11.6 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Arts, Entertainment, and Recreation
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Planet Fitness began in 1992 in Dover, New Hampshire, where the company started as a local gym before evolving into a broader fitness concept. The business built its model around a low-cost, non-intimidating environment known as the Judgement Free Zone, aimed at making gym use more accessible to casual and first-time exercisers. Today, Planet Fitness operates as a major franchisor and operator of fitness centers, with clubs across the United States and several other markets, and it supports members through club access, digital workouts, and app-based tools. The company offers cardio and strength equipment, membership tiers, and free fitness instruction through small-group training programs.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Arts, Entertainment, and Recreation | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
20/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 105-75-458 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $413,851 |
Property Taxes
Parcel Number
105-75-458
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$413,851
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